VTech sees sales lift to $928m in Q3 2015 earnings - ToyNews

VTech sees sales lift to $928m in Q3 2015 earnings

In electronic learning products, the firm’s North American and European arms returned to growth while sales n the Asia Pacific region ‘rose sharply.’
Author:
Publish date:
vtech.gif

Pre-school tech toy specialist VTech has seen a three per cent lift in revenue, taking its Q3 earnings to $928.1 million for 2015.

In electronic learning products, the firm’s North American and European arms returned to growth while sales n the Asia Pacific region ‘rose sharply.’

As ELP revenue in the US increased by 5.3 per cent in the results for the six months ending September 30th 2015 to $148.7 million, VTech retains its position as the number on manufacturer in the infant and pre-school electronic learning category in North America.

According to VTech, the growth of standalone products was driven by sales increases in infant products, Go Go Smart Wheels and Go Go Smart Animals, which offset lower sales of Switch & Go Dinos and pre-school products.

The launch of new products such as Kidizoom Action Cam, Go Go Smart Friends, baby Amaze and Flipsies also supported the firm’s growth.

While sales in the UK increased, across the wider European region, ELP sales dipped by 8.7 per cent, however during the first nine months of the calendar year of 2015, VTech has continued to gain market share and strengthened its position across the UK, France, Germany and Belgium.

“In the first six months of the financial year 2016, VTech continued to make progress in its core businesses, despite strong foreiugn exchange headwinds,” said Allan Wong, chairman and CEO of VTech Holdings Limited.

“In electronic learning products, the business in North America returned to growth while sales in the Asia Pacific region rose sharply.”

Related

Featured Jobs

Copyrights Group

Marketing Manager

The Copyrights Group is one of the licensing arms within The Vivendi Group. Acquired by Vivendi in 2016 Copyrights manages the licensing for a portfolio of properties to include Paddington Bear. Some of the other companies within the Vivendi Group include Universal Music Group, and their licensing arm Bravado, Gameloft and Studiocanal to name a few.